CBN Deputy Governor Reportedly Arrested by DSS

In a startling development, Mr. Kingsley Obiora, the Deputy Governor of Nigeria’s Central Bank overseeing economic policy, has reportedly been arrested.

This surprising turn of events unfolds as part of an ongoing investigation into allegations of financial mismanagement during the tenure of the ousted Central Bank Governor, Mr. Godwin Emefiele.

Mr. Emefiele, who had held the influential position of Central Bank Governor since June 2014, found himself in the custody of the State Security Service (SSS) on June 10, 2023, just a day after his controversial removal from office by President Bola Tinubu. Despite two federal judges ordering Mr. Emefiele’s release, the SSS has persisted in detaining him, frequently lodging fresh charges to replace earlier ones.

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The arrest of Mr. Kingsley Obiora has raised eyebrows, given his perceived role as a principal witness against his former boss, Mr. Emefiele. It’s noteworthy that another high-ranking Central Bank official, Mr. Abbas Masanawa, was recently arrested in connection with the investigation into alleged corruption within the Central Bank.

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Born on March 6, 1976, Mr. Kingsley Obiora boasts an impressive career, having previously served as a policy chief at the International Monetary Fund. He also provided counsel to the former Nigerian Finance Minister, Ngozi Okonjo-Iweala. Until March 2, 2020, he was an adviser to Mr. Emefiele, at which point he assumed his current role as one of the Central Bank’s four deputy governors.

In late July, President Tinubu appointed a special investigator, Mr. Jim Osayande Obazee, to spearhead an inquiry into the Central Bank and other federal agencies suspected of fostering a culture of corruption. Mr. Obazee began his duties at the Central Bank in early August.

The arrest of Mr. Kingsley Obiora has sent shockwaves through Nigeria, as the nation closely watches the unfolding investigation into alleged financial misconduct within its Central Bank. As this high-stakes probe continues, Nigerians are demanding transparency and accountability in addressing these serious allegations.

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